HomeMy WebLinkAboutMN-IURANI-2011-09-02
108 East Green Street
Ithaca, New York 14850
(607) 274-655
Approved Minutes
IURA Neighborhood Investment Committee
Sept. 2, 2011
I. Call to Order
Chairperson Tracy Farrell called the meeting to order at 8:35 a.m. with members Teresa Halpert, Caleb
Thomas and Susan Cummings attending. Also present were staff members Nels Bohn and Sue Kittel as
well as Bart Noto from Nathaniel General Contractors, and Joe Bowes and Susan Ottenweller from
Pathstone, Inc..
II. Additions to or deletions from the agenda
None
III. Public comment
None
IV. New Business
a) Possible Low-Income Housing Tax Credit Project—presentation by Pathstone, Inc.
Joe Bowes described Pathstone’s interest in a tax credit project at Parkside Gardens in Ithaca.
Currently there is a 51 unit development which was built in the 1950s. All units are 2 bedrooms.
The goal of the project would be to create units with the look and feel of new units, with a local
management company, and more stability at the site for on-going affordable housing. The current
owner is an out of town investor who appears to be putting very little back into the unity in terms of
maintenance. The site was described as ideal for people who would not necessary be car-dependent. It
is close to employment, services and public transit.
There is a signed purchase offer and Pathsone is doing the background work of inspecting the units nw.
There appear to be structural concerns as well as a great deal of deferred rapair and maintenance work.
Nathaniel General Contractors would be doing the rehabilitation work alson with financing the
purchase and any new construction on the site. Discussion regarding the possibilities for the site
ensued with an agreement that Pathstone would return in October to provide another update.
b) Other
None
VI. Old Business
None
VII. Staff Report
None
VIII. Motion to Adjourn
The meeting adjourned at 10:55 a.m.
Ithaca
Urban
Renewal
Agency